T-Mobile US Inc’s proposed $26.5 billion tie-up with Sprint Cor won formal approval from the Federal Communications Commission on Wednesday in a vote split along party lines, two sources told Reuters.
Chairman Ajit Pai and two Republican commissioners voted to approve the deal while two Democratic commissioners voted against it, the sources said.
The U.S. Justice Department approved the deal in July.
Under the Justice Department deal, the companies would divest Sprint’s prepaid businesses, including Boost Mobile, to satellite television company Dish Network Corp, and provide it with access to 20,000 cell sites and hundreds of retail locations. That deal is worth about $5 billion.
MacDailyNews Take: As we wrote in July:
“Dish Network could make Sprint look even more like a meek little lamb and be a far more formidable competitor, which is great news for U.S. cellular customers who stand to benefit from increased competition among carriers!”